: MCA seeks company heads to help maintain social distancing, take necessary steps to limit spread of deadly COVID19 #FinanceIndia #StockMarketNEWS MCA seeks company heads to help maintain social distancing,

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MCA seeks company heads to help maintain social distancing, take necessary steps to limit spread of deadly COVID19 #FinanceIndia #StockMarketNEWS
MCA seeks company heads to help maintain social distancing, take necessary steps to limit spread of deadly COVID-19 New Delhi, Mar 20 (KNN) The Ministry of Corporate Affairs (MCA) has issued an advisory amid COVID-19 outbreak asking Corporate sector to help implement the strategic decision to maintain social distancing to stop the transmission of disease at community level.

In order to deal with this public health situation, the corporate sector would be required to play a key role in implementing the strategic policy decision of social distancing, which is the most crucial for reducing the rate and extent if the disease transmission at community level, MCA said in a communication to MDs/CEOs.

A copy of the mail was marked to the Federation of Indian Micro and Small & Medium Enterprises (FISME), Indias largest MSME body to diseminate the information amongst MSMEs across the country.

The MCA has also allowed companies to hold board meetings through video conferencing till June 30, 2020 in an attempt to reduce physical contact and limit the spread of the Covid-19 outbreak.

Taking cognizance of the gravity of the public health situation, the government in the MCA has relaxed the rules with respect to meetings of Board and dispensed with the necessity of holding physical meetings on matters relating to approval of financial statements, board report, restructuring etc. up to June 30th 2020. We are also examining any other relaxations under Companies Act, 2013, that may be necessitated on account of COVID-19, the communication further read.

The Ministry has also asked organisations/firms to implement work from home policy as temporary measure till March 31st 2020.

All companies and LLPs are advised to work from home policy in their headquarters and field offices to the maximum extent possible including by conduct of meetings through video conference or other electronic /telephonic computerised means, MCA said.

The communication further reveals that, the government is in the process of developing and deploying a simple web form for companies to confirm their readiness to deal with the COVID-19 threat.

The web form named CAR (Company Affirmation of Readiness towards COVID-19) should be filed by an authorised signatory of companies and LLPs. Car shall be deployed on March 23rd 2020. All companies/LLPs are requested to report compliance using the abovementioned web service on the 23rd instant, MCA added. (KNN Bureau)